General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 9.000-10.000 for the period, compared to the consensus earnings per share estimate of 9.080. The company issued revenue guidance of -. General Motors also updated its FY24 guidance to 9.00-10.00 EPS.
Analyst Ratings Changes
A number of brokerages recently issued reports on GM. UBS Group increased their target price on shares of General Motors from $56.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday. TheStreet raised shares of General Motors from a c+ rating to a b- rating in a research report on Tuesday, March 19th. Redburn Atlantic assumed coverage on General Motors in a research note on Wednesday, January 24th. They issued a neutral rating and a $40.00 target price on the stock. Royal Bank of Canada raised their target price on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of General Motors from $45.00 to $50.00 and gave the company a buy rating in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $54.65.
View Our Latest Stock Report on General Motors
General Motors Stock Up 1.0 %
General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. On average, equities research analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.
General Motors Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.
Insider Buying and Selling
In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares in the company, valued at $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 over the last ninety days. 0.54% of the stock is owned by insiders.
About General Motors
General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.
Recommended Stories
- Five stocks we like better than General Motors
- How to Calculate Options Profits
- 3 Stocks Leading the U.S. Agriculture Comeback
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- How to Use Put Debit Spreads to Profit From Falling Stocks
- How to Find Undervalued Stocks
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.